加拿大皇家银行表示，高露洁棕榄公司预计第一季度业绩将符合预期，并重申业绩指引，尽管面临成本压力。

-- 加拿大皇家银行资本市场（RBC Capital Markets）周三在一份报告中指出，高露洁棕榄（Colgate-Palmolive，股票代码：CL）预计第一季度业绩将符合预期，并维持全年业绩指引不变。不过，由于品类增长放缓和成本压力，实际业绩可能略低于预期。分析师表示，美国市场依然充满挑战，品类需求疲软，近期部分牙膏市场份额有所下滑。但管理层预计，在第二季度和第三季度，随着Optic White等新产品的推出以及Max White货架陈列位置的改善，市场状况将有所改善。新兴市场预计将引领增长。报告指出，库存水平趋于紧张，但管理层并未称之为“真正的去库存”，并预计出货量将略低于消费量。同时，预计2026年原材料通胀将较2025年有所缓解，但树脂成本高企仍构成风险。分析师表示，高露洁棕榄年初给出的宽泛业绩指引范围反映了疲软的消费环境和多种可能的结果，这“更好地保护”了公司免受冲击。他们表示：“我们最终认为高露洁可以重申其业绩指引范围，但预计该范围将面临下行压力。”他们补充说，最大的风险在于美国、非洲、欧亚大陆以及亚太部分地区，成本上升预计也将对利润率构成压力。该公司预计将于周五公布第一季度财务业绩。加拿大皇家银行资本市场对高露洁棕榄的评级为“跑赢大盘”，目标价为102美元。

Price: $84.81, Change: $-0.86, Percent Change: -1.00%

Fed Chair Powell Says He Will Remain as Governor for Period of Time After Chair Term Ends

Federal Reserve Chair Jerome Powell said Wednesday at a press conference that he will remain on the Federal Reserve board for a period of time after his term as chair ends on May 15, noting the recent attacks on the Fed and saying that "the things that have happened really in the last three months I think left me no choice but to stay until I see them through at least that long."An investigation into Powell's actions as chair during the remodeling of headquarters at the Fed was halted by the Department of Justice, but it could be reopened if the Fed's inspector general finds wrongdoing, providing uncertainty."I have said that I will not leave the board until this investigation is well and truly over with transparency and finality and I stand by that," Powell said. "I am encouraged by recent developments, and I am watching the remaining steps in this process carefully."Powell said that his decision to remain on board has nothing to do with political comments, but rather his concern about the recent attack on the Fed by the Trump administration."After my term as chair ends on May 15, I will continue to serve as governor for a period of time to be determined," Powell said. "I plan to keep a low profile as a governor. There is only one chair of the Federal Reserve.""I will leave when I think it's appropriate to do so," he added.At the meeting, the Federal Open Market Committee decided to maintain its target rate at a range of 3.50% to 3.75%, but there were dissents in favor of both a lowering of the policy rate by one member and in favor of eliminating the bias toward easing in the statement by three members.

UAE Pushes for Greater Control Over Oil Output, Limited Near-Term Market Impact, RBC Says

The UAE's decision to leave OPEC is unlikely to disrupt oil markets in the near term, but points to a broader strategic realignment as the Gulf producer seeks greater control over its output policy amid the ongoing Middle East conflict, RBC Capital Markets strategists said in a note on Tuesday.The UAE has for years pushed to monetize investments in expanding crude capacity and promoting its Murban benchmark, a strategy that has at times strained relations within OPEC.RBC analysts said disputes over production baselines, including a July 2021 standoff that delayed an agreement for nearly two weeks, underscored friction between the UAE and other members over output quotas.The analysts said the UAE's departure reflects a continuation of these tensions, as the country has consistently sought higher production targets. A subsequent push in 2023 to revise its baseline led to a complex redistribution of quotas, reducing allocations for some African producers.However, despite the policy shift, the UAE is not expected to significantly increase production beyond levels seen in early 2026 once the conflict subsides.The Gulf state has been operating close to its current capacity, and post-war reconstruction demands are likely to temper any rapid supply increases.UAE authorities, in a statement, said it would continue to bring additional barrels to market "in a gradual and measured manner," aligned with demand and prevailing conditions.RBC analysts said this suggests spare capacity within the global system will remain concentrated in Saudi Arabia for the foreseeable future.The move comes at a critical moment in the regional conflict with Iran, which has heightened concerns over energy security, particularly around the strategically vital Strait of Hormuz.The UAE has been among the most vocal Gulf states opposing any scenario in which Iran maintains influence over the passage, citing repeated drone and missile attacks on its territory.The country's increasingly assertive stance appears to align more closely with Israel than with some Gulf neighbors.RBC analysts expect closer cooperation between Abu Dhabi and Israel on energy security and critical infrastructure once the conflict ends, potentially including joint investments and expanded defense agreements in strategic areas such as the Red Sea.The analyst said the UAE's exit does not signal an imminent fragmentation of OPEC. With no immediate requirement for coordinated production cuts and many member states focused on rebuilding capacity after the conflict, the group is expected to remain broadly intact in the near term.

加拿大皇家银行表示，高露洁棕榄公司预计第一季度业绩将符合预期，并重申业绩指引，尽管面临成本压力。

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